Medgold Resources Corp (CVE:MED). has entered into an option agreement with Fortuna Silver Mines Inc (TSE:FVI) under the terms of which Fortuna has the exclusive option to acquire up to 70 per cent in the Tlamino project in southern Serbia.
Fortuna has to spend US$8-million in qualifying expenditures and complete a preliminary economic assessment to secure the option in its entirety.
“We are very pleased with Fortuna’s continued support of our exploration efforts in Serbia,” said Dan James, President of Medgold.
“We will continue to generate projects under our strategic alliance with Fortuna, and will also now commence a more focused exploration campaign at Tlamino under the option agreement. We have a combined budget of CAD$2.5m for 2017 in Serbia, which will allow us to complete a program of ground geophysics and diamond drilling at Tlamino.”
Story by ProactiveInvestors